“Stocks were lower Wednesday as concerns grew after a report suggested that the Federal Reserve’s next round of quantitative easing will be less agressive than expected,” CNBC.com reports.
“The Dow Jones Industrial Average was down more than 60 points,” CNBC.com reports. “The S&P 500 was lower, while the tech-heavy Nasdaq was slightly higher. The CBOE Volatility Index, widely considered the best gauge of fear in the market, traded around 20. Energy, materials and utilities fell, while financials and techs were the sector gainers.”
“The Fed is expected to reveal plans to purchase U.S. Treasury bonds worth a few hundred billion dollars over several months, according to the Wall Street Journal. Many market watchers had been anticipating a more significant attempt to boost economic growth with asset purchases,” CNBC.com reports. “The Fed meets next week and details of any stimulus are expected to be announced when the meeting wraps up Nov. 3.”
CNBC.com reports, “On the tech front, Apple [AAPL] said that it would delay release of its eagerly anticipated white iPhone again, this time until next spring. Meanwhile, Barnes & Noble [BKS] unveiled a color touch screen version of its Nook electronic reader as it seeks to catch up to the Kindle from Amazon.com.”
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